Burton Co$.,$ based in the United States, considers a project in which it has an initial outlay of $$3$ million and expects to receive $9$ million Swiss francs $($SF$)$ in one year. The spot rate of the franc is $$0\mathrm{.}77.$ Burton Co$.$ decides to purchase put options on Swiss francs with an exercise price of $$0\mathrm{.}75$ and a premium of $$0\mathrm{.}02$ per unit to hedge its receivables. It has a required rate of return of $18$ percent.

Determine the net present value of this project for Burton Co$.$ based on the forecast that the Swiss franc will be valued at $$0\mathrm{.}68$ at the end of one year. Do not round intermediate calculations. Round your answer to the nearest dollar.

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Assume the same information as in part $($a$),$ but with the following adjustment. While Burton expected to receive $9$ million Swiss francs, assume that there were unexpected weak economic conditions in Switzerland after Burton initiated the project. Consequently, Burton received only $6$ million Swiss francs at the end of the year. Also assume that the spot rate of the franc at the end of the year was $$0\mathrm{.}76.$ Determine the net present value of this project for Burton Co$.$ if these conditions occur. Do not round intermediate calculations. Round your answer to the nearest dollar.